Insolvency Statistics in Canada—September 2021

Definitions

Bankruptcy
The state of a consumer or a business that has made an assignment in bankruptcy or against whom a bankruptcy order has been made.
Business
Any commercial entity or organization other than an individual, or an individual who has incurred 50% or more of total liabilities as a result of operating a business.
Consumer
An individual with more than 50% of total liabilities related to consumer goods and services.
Corporation
A commercial entity or organization.
Individual Business
An individual who has incurred 50% or more of total liabilities as a result of operating a business.
North American Industry Classification System (NAICS)
System that classifies economic units that have similar production processes in the same industry. This is a supply-based or production-oriented economic concept.
Proposal
An offer to creditors to settle debts under conditions other than the existing terms. A proposal is a formal agreement under the Bankruptcy and Insolvency Act.

Note:

Monthly statistics for insolvency volumes tend to vary widely. Quarterly and annual statistics can be more indicative of the evolution of insolvency volume.

Table 1: Total Insolvencies
ProvinceVolume% Change12-Month Period Ending
September 2021August 2021September 2020Aug. 2021
to
Sept. 2021
Sept. 2020
to
Sept. 2021
09-30-202109-30-2020% Change
Newfoundland and Labrador1311211918.3-31.41,8152,179-16.7
Bankruptcies454673-2.2-38.4663981-32.4
Proposals867511814.7-27.11,1521,198-3.8
Prince Edward Island3028297.13.4382532-28.2
Bankruptcies17713142.930.8169266-36.5
Proposals132116-38.1-18.8213266-19.9
Nova Scotia234261277-10.3-15.53,1344,274-26.7
Bankruptcies90123124-26.8-27.41,3582,013-32.5
Proposals1441381534.3-5.91,7762,261-21.5
New Brunswick2432432930.0-17.13,1983,731-14.3
Bankruptcies100961224.2-18.01,4151,660-14.8
Proposals143147171-2.7-16.41,7832,071-13.9
Quebec2,1961,9832,28710.7-4.025,57133,036-22.6
Bankruptcies9819041,0948.5-10.311,71115,250-23.2
Proposals1,2151,0791,19312.61.813,86017,786-22.1
Ontario2,5182,4312,7163.6-7.331,48538,135-17.4
Bankruptcies6276127312.5-14.28,36411,156-25.0
Proposals1,8911,8191,9854.0-4.723,12126,979-14.3
Manitoba26217823547.211.52,4752,813-12.0
Bankruptcies78709011.4-13.3792934-15.2
Proposals18410814570.426.91,6831,879-10.4
Saskatchewan208215209-3.3-0.52,7513,000-8.3
Bankruptcies636459-1.66.88311,108-25.0
Proposals145151150-4.0-3.31,9201,8921.5
Alberta1,1781,0071,04217.013.113,96714,263-2.1
Bankruptcies20318028012.8-27.53,0584,241-27.9
Proposals97582776217.928.010,90910,0228.9
British Columbia693708602-2.115.18,7339,210-5.2
Bankruptcies1851702088.8-11.12,3333,151-26.0
Proposals508538394-5.628.96,4006,0595.6
Northwest Territories614500.050.04555-18.2
Bankruptcies000----512-58.3
Proposals614500.050.04043-7.0
Yukon523150.066.735350.0
Bankruptcies010-100.0--1112-8.3
Proposals513400.066.724234.3
Nunavut122-50.0-50.0141127.3
Bankruptcies010-100.0--13-66.7
Proposals1120.0-50.013862.5
Canada7,7057,1807,8907.3-2.393,605111,274-15.9
Bankruptcies2,3892,2742,7945.1-14.530,71140,787-24.7
Proposals5,3164,9065,0968.44.362,89470,487-10.8
Table 2: Insolvencies Filed by Consumers
ProvinceVolume% Change12-Month Period Ending
September 2021August 2021September 2020Aug. 2021
to
Sept. 2021
Sept. 2020
to
Sept. 2021
09-30-202109-30-2020% Change
Newfoundland and Labrador1301211897.4-31.21,8042,161-16.5
Bankruptcies444671-4.3-38.0652968-32.6
Proposals867511814.7-27.11,1521,193-3.4
Prince Edward Island30272911.13.4380527-27.9
Bankruptcies17613183.330.8168262-35.9
Proposals132116-38.1-18.8212265-20.0
Nova Scotia234260277-10.0-15.53,1204,245-26.5
Bankruptcies90122124-26.2-27.41,3461,986-32.2
Proposals1441381534.3-5.91,7742,259-21.5
New Brunswick2422422920.0-17.13,1793,713-14.4
Bankruptcies99951224.2-18.91,4011,647-14.9
Proposals143147170-2.7-15.91,7782,066-13.9
Quebec2,0771,8942,1489.7-3.324,13331,276-22.8
Bankruptcies8838309776.4-9.610,52113,913-24.4
Proposals1,1941,0641,17112.22.013,61217,363-21.6
Ontario2,4612,3782,6643.5-7.630,87237,356-17.4
Bankruptcies5885706933.2-15.27,92610,610-25.3
Proposals1,8731,8081,9713.6-5.022,94626,746-14.2
Manitoba25917523048.012.62,4452,773-11.8
Bankruptcies76678513.4-10.6767903-15.1
Proposals18310814569.426.21,6781,870-10.3
Saskatchewan203214204-5.1-0.52,7062,924-7.5
Bankruptcies616356-3.28.97951,050-24.3
Proposals142151148-6.0-4.11,9111,8742.0
Alberta1,1669931,02717.413.513,81414,087-1.9
Bankruptcies19816926817.2-26.12,9594,111-28.0
Proposals96882475917.527.510,8559,9768.8
British Columbia683703589-2.816.08,6439,089-4.9
Bankruptcies1781671976.6-9.62,2723,079-26.2
Proposals505536392-5.828.86,3716,0106.0
Northwest Territories614500.050.04555-18.2
Bankruptcies000----512-58.3
Proposals614500.050.04043-7.0
Yukon523150.066.735350.0
Bankruptcies010-100.0--1112-8.3
Proposals513400.066.724234.3
Nunavut122-50.0-50.014875.0
Bankruptcies010-100.0--10--
Proposals1120.0-50.013862.5
Canada7,4977,0127,6586.9-2.191,190108,249-15.8
Bankruptcies2,2342,1372,6064.5-14.328,82438,553-25.2
Proposals5,2634,8755,0528.04.262,36669,696-10.5
Table 3: Insolvencies Filed by Businesses
ProvinceVolume% Change12-Month Period Ending
September 2021August 2021September 2020Aug. 2021
to
Sept. 2021
Sept. 2020
to
Sept. 2021
09-30-202109-30-2020% Change
Newfoundland and Labrador102---50.01118-38.9
Bankruptcies102---50.01113-15.4
Proposals000----05-100.0
Prince Edward Island010-100.0--25-60.0
Bankruptcies010-100.0--14-75.0
Proposals000----110.0
Nova Scotia010-100.0--1429-51.7
Bankruptcies010-100.0--1227-55.6
Proposals000----220.0
New Brunswick1110.00.019185.6
Bankruptcies1100.0--14137.7
Proposals001---100.0550.0
Quebec1198913933.7-14.41,4381,760-18.3
Bankruptcies987411732.4-16.21,1901,337-11.0
Proposals21152240.0-4.5248423-41.4
Ontario5753527.59.6613779-21.3
Bankruptcies394238-7.12.6438546-19.8
Proposals18111463.628.6175233-24.9
Manitoba3350.0-40.03040-25.0
Bankruptcies235-33.3-60.02531-19.4
Proposals100----59-44.4
Saskatchewan515400.00.04576-40.8
Bankruptcies213100.0-33.33658-37.9
Proposals302--50.0918-50.0
Alberta121415-14.3-20.0153176-13.1
Bankruptcies51112-54.5-58.399130-23.8
Proposals733133.3133.3544617.4
British Columbia10513100.0-23.190121-25.6
Bankruptcies7311133.3-36.46172-15.3
Proposals32250.050.02949-40.8
Northwest Territories000----00--
Bankruptcies000----00--
Proposals000----00--
Yukon000----00--
Bankruptcies000----00--
Proposals000----00--
Nunavut000----03-100.0
Bankruptcies000----03-100.0
Proposals000----00--
Canada20816823223.8-10.32,415 3,025 -20.2
Bankruptcies15513718813.1-17.61,887 2,234 -15.5
Proposals53314471.020.5528 791 -33.2
Table 3a: Insolvencies Filed by Corporations
ProvinceVolume% Change12-Month Period Ending
September 2021August 2021September 2020Aug. 2021
to
Sept. 2021
Sept. 2020
to
Sept. 2021
09-30-202109-30-2020% Change
Newfoundland and Labrador102---50.047-42.9
Bankruptcies102---50.045-20.0
Proposals000----02-100.0
Prince Edward Island010-100.0--110.0
Bankruptcies010-100.0--10--
Proposals000----01-100.0
Nova Scotia000----717-58.8
Bankruptcies000----615-60.0
Proposals000----12-50.0
New Brunswick100----1012-16.7
Bankruptcies100----810-20.0
Proposals000----220.0
Quebec1007611931.6-16.01,2491,549-19.4
Bankruptcies886610133.3-12.91,0701,209-11.5
Proposals12101820.0-33.3179340-47.4
Ontario4038425.3-4.8415487-14.8
Bankruptcies323332-3.00.0331368-10.1
Proposals851060.0-20.084119-29.4
Manitoba311200.0200.01416-12.5
Bankruptcies211100.0100.0111010.0
Proposals100----36-50.0
Saskatchewan000----2010100.0
Bankruptcies000----178112.5
Proposals000----3250.0
Alberta107542.9100.095102-6.9
Bankruptcies474-42.90.06875-9.3
Proposals601--500.027270.0
British Columbia4110300.0-60.05172-29.2
Bankruptcies419300.0-55.63645-20.0
Proposals001---100.01527-44.4
Northwest Territories000----00--
Bankruptcies000----00--
Proposals000----00--
Yukon000----00--
Bankruptcies000----00--
Proposals000----00--
Nunavut000----03-100.0
Bankruptcies000----03-100.0
Proposals000----00--
Canada15912417928.2-11.21,8662,276-18.0
Bankruptcies13210914921.1-11.41,5521,748-11.2
Proposals27153080.0-10.0314528-40.5
Table 3b: Insolvencies Filed by Individual Businesses
ProvinceVolume% Change12-Month Period Ending
September 2021August 2021September 2020Aug. 2021
to
Sept. 2021
Sept. 2020
to
Sept. 2021
09-30-202109-30-2020% Change
Newfoundland and Labrador000----711-36.4
Bankruptcies000----78-12.5
Proposals000----03-100.0
Prince Edward Island000----14-75.0
Bankruptcies000----04-100.0
Proposals000----10--
Nova Scotia010-100.0--712-41.7
Bankruptcies010-100.0--612-50.0
Proposals000----10--
New Brunswick011-100.0-100.09650.0
Bankruptcies010-100.0--63100.0
Proposals001---100.0330.0
Quebec19132046.2-5.0189211-10.4
Bankruptcies1081625.0-37.5120128-6.3
Proposals95480.0125.06983-16.9
Ontario17151013.370.0198292-32.2
Bankruptcies796-22.216.7107178-39.9
Proposals106466.7150.091114-20.2
Manitoba024-100.0-100.01624-33.3
Bankruptcies024-100.0-100.01421-33.3
Proposals000----23-33.3
Saskatchewan515400.00.02566-62.1
Bankruptcies213100.0-33.31950-62.0
Proposals302--50.0616-62.5
Alberta2710-71.4-80.05874-21.6
Bankruptcies148-75.0-87.53155-43.6
Proposals132-66.7-50.0271942.1
British Columbia64350.0100.03949-20.4
Bankruptcies32250.050.02527-7.4
Proposals32150.0200.01422-36.4
Northwest Territories000----00--
Bankruptcies000----00--
Proposals000----00--
Yukon000----00--
Bankruptcies000----00--
Proposals000----00--
Nunavut000----00--
Bankruptcies000----00--
Proposals000----00--
Canada49445311.4-7.5549749-26.7
Bankruptcies232839-17.9-41.0335486-31.1
Proposals26161462.585.7214263-18.6
Table 4: Insolvencies byNAICSEconomic Sectors, Canada
sectorVolume% Change12-Month Period Ending
September 2021August 2021September 2020Aug. 2021
to
Sept. 2021
Sept. 2020
to
Sept. 2021
09-30-202109-30-2020% Change
Agriculture, Forestry, Fishing and Hunting258-60.0-75.05364-17.2
Bankruptcies156-80.0-83.34148-14.6
Proposals102---50.01216-25.0
Mining and Oil and Gas Extraction033-100.0-100.05527103.7
Bankruptcies032-100.0-100.04116156.3
Proposals001---100.0141127.3
Utilities000----35-40.0
Bankruptcies000----24-50.0
Proposals000----110.0
Construction252623-3.88.7328418-21.5
Bankruptcies202119-4.85.3262299-12.4
Proposals5540.025.066119-44.5
Manufacturing172223-22.7-26.1223280-20.4
Bankruptcies91918-52.6-50.0170194-12.4
Proposals835166.760.05386-38.4
Wholesale Trade3815-62.5-80.098155-36.8
Bankruptcies2814-75.0-85.777117-34.2
Proposals101--0.02138-44.7
Retail Trade27152780.00.0254425-40.2
Bankruptcies20132253.8-9.1198300-34.0
Proposals725250.040.056125-55.2
Transportation and Warehousing17131730.80.01801771.7
Bankruptcies1281350.0-7.71431383.6
Proposals5540.025.03739-5.1
Information and Cultural Industries3320.050.04253-20.8
Bankruptcies121-50.00.03540-12.5
Proposals211100.0100.0713-46.2
Finance and Insurance2230.0-33.3543554.3
Bankruptcies202--0.0452860.7
Proposals021-100.0-100.09728.6
Real Estate and Rental and Leasing1827800.0157.1130135-3.7
Bankruptcies1017900.042.997925.4
Proposals810700.0--3343-23.3
Professional, Scientific and Technical Services13111118.218.2164183-10.4
Bankruptcies798-22.2-12.51381333.8
Proposals623200.0100.02650-48.0
Management of Companies and Enterprises2311-33.3-81.86795-29.5
Bankruptcies239-33.3-77.85072-30.6
Proposals002---100.01723-26.1
Administrative and Support, Waste Management and Remediation Services18517260.05.91341303.1
Bankruptcies16414300.014.31009011.1
Proposals213100.0-33.33440-15.0
Educational Services313200.00.02935-17.1
Bankruptcies312200.050.02527-7.4
Proposals001---100.048-50.0
Health Care and Social Assistance8850.060.0756417.2
Bankruptcies75540.040.0534810.4
Proposals130-66.7--221637.5
Arts, Entertainment and Recreation6710-14.3-40.074110-32.7
Bankruptcies6680.0-25.05389-40.4
Proposals012-100.0-100.021210.0
Accommodation and Food Services36223363.69.1330459-28.1
Bankruptcies32192868.414.3257368-30.2
Proposals43533.3-20.07391-19.8
Other Services (except Public Administration)81212-33.3-33.3119172-30.8
Bankruptcies5109-50.0-44.497129-24.8
Proposals32350.00.02243-48.8
Public Administration002---100.0330.0
Bankruptcies001---100.03250.0
Proposals001---100.001-100.0
Canada20816823223.8-10.32,4153,025-20.2
Bankruptcies15513718813.1-17.61,8872,234-15.5
Proposals53314471.020.5528791-33.2